How Far?

How far down the rabbit hole are you willing to go?

  1.   Spain’s government mandated a minimum 80-degree setting on all home air conditioning units as the transition to green power hasn’t kept up with demand.
  2.   Ukraine’s richer by $50 billion thanks to the generosity of America.  Zelenskyy is so appreciative of this gesture that he took time away from posing for the Vogue cover to reach out to China to have them bid on the rebuild after the war that is or isn’t a war.
  3. China is so concerned about the effect of burning fossil fuels that official plans call for boosting coal production capacity by 300 million tons this year. That is equal to 7% of last year’s output of 4.1 billion tons, which was an increase of 5.7% over 2020.  All of the windmills in the world matter not if China and India don’t comply.
  4.  It seems like they disagree with then-President Barack Obama who lectured us that “climate change was no longer a debate, it’s fact.”  He’s is right though.  The climate has been changing for hundreds of millions of years.
  5.  All of this paves the way for the Inflation Reduction Act, which gives away over a quarter of trillion dollars to green companies and green-leaning pet projects.  Never let capitalism get in the way of a government, er, political handout.
  6.  All of the green handouts, capitalism, and the Inflation Reduction Act collided yesterday.  The Inflation Reduction Act, the major climate bill, was signed this week, continuing the EV purchase $7500 tax credit but only those assembled in North America qualify.  Capitalism stepped in and GM and Ford raised the prices of certain electric models by $6,000 to $8,500, roughly matching the $7,500 tax credit introduced under the inflation bill.  We think that’s called a zero-sum game.
  7. Thirty-one models qualify, but the government’s process to qualify is tricky and the timing is trickier due to quotas.  The “must have” is that at a minimum “final assembly” must occur stateside.  Could this be as simple as screwing on the gas tank cap to qualify?  Wait.
  8. Actually the only thing this screws is the gas combustion car manufacturing business.  Oh, and the big, bad oil business as well.
  9. If you obsoleted much of the need for oil (good luck) you’d certainly harm the economy in Texas, Alaska, North Dakota, South Dakota, Louisiana, and Oklahoma to name a few.  What do all of these states have in common?  Hint- It’s not abortion rights, er, woman’s reproductive health.  Think red.
  10. Who wins when wind wins?  Hint-It’s not states that have or will abort abortions.  Think blue.
  11. At least we seem to be winning across the 50 united vs. that pesky pandemic.  Two vax’s and two boosters did the trick.  How?  We don’t need to revisit government political theater handouts and capitalism do we?
  12. Although the military is still requiring all of the jabs or you’re discharged from it for refusing.  Masking will be mandatory for Philadelphia students for the first 10 days of the upcoming school year that starts on Aug. 29, after which it will be “optional but strongly encouraged.”  We have to guess that the disease can only count to ten just like many students.  Make it make sense.
  13. Meanwhile, the CDC Director weighed in, “In our big moment, our performance did not reliably meet expectations.” Dr. Rochelle Walensky said this and more in a statement to the media yesterday that goes on to recommend CDC changes.

We’re so far down the rabbit hole that Bugs Bunny just asked Dr. Rochelle, “ah, what’s up doc?”

 

Ten Piece Nuggets

It’s been a week.  Here’s a fresh ten to chew on.

  1. The 2022 United States mid-term elections will be held on Tuesday, November 8.  And, it’s a big day.  All 435 House seats and 34 of the 100 Senate seats are on the ballot. Additionally, 36 out of 50 states will elect governors.
  2. That’s 84 days or 12 weeks from today.  America will decide if it likes the course it is on, or if it wants to turn back a tad or two to the red/right.  The Senate is stymied at 50/50 while the House is 220-211, with Democrats holding that slim majority.  Divided we stand.
  3. The Twitterverse is full of copycats, but kudos to whoever was the first one last week to post, “If we have zero inflation (as our president said), then why do we need the Inflation Reduction Act?”
  4.  Democrat Rep Jamie Raskin(Maryland’s 8th Congressional District) had no answer to the question.  He was asked yesterday, “What parts of the bill do you think will be put to work on lowering inflation specifically?” He hesitated, then uttered “Next question.”   Here’s a question.  Has anyone ever heard of Raskin outside of Maryland?
  5. Where’s Joe?  The “need to know basis” and “obligatory” press only understand that he is vacationing at an undisclosed location.  Not to worry, it’s well earned.  The President has had a tough run recently.  A bike fall started it.  Then he caught covid, recovered (or not), then caught covid again.  All of that is after four puncture wounds to the left arm (2 vax, 2 boosts) in the last year as well.
  6.  Former President Trump won’t be vacationing out of the country any time soon.  The FBI saw to that.  Trump said the FBI seized three of his passports during its raid on Mar-a-Lago last week, calling the unprecedented search an “assault.”  The FBI at first denied the transgression, then admitted it along with the DOJ last evening.
  7. Norah O’Donnell, host of “CBS Evening News,” suggested the Department of Justice did not have Trump’s passports, tweeting, “According to a DOJ official, the FBI is NOT in possession of former President Trump’s passports.”  It was a hot take until it wasn’t a hot take.  Double check your sources, and always have two a wise journalism professor once said.
  8.  The Dems have a few things working in their favor as 11/8 approaches.  They’ve handed out three trillion dollars in under 21 months to continue to create dependence.  They’ve put a lot of greenbacks in the green companies’ hands so that they can give that money back to them for campaigns.  They have an abortion, er, women’s reproductive rights hailstorm.  And, for the uneducated, they can claim credit for inflation reduction in an economy that isn’t in a recession as recessions are now redefined.
  9. They need a big trump card in their hand to play the once every two-year race card though.  Surely we’ll have one bad shooting amongst the thousands weekly between now and 11/8.  Then, the peaceful protests will start anew.
  10.  There’s a race card being played in Minnesota right now.  It won’t fit the narrative though.  An agreement between the Minneapolis Federation of Teachers union and the school district states that white teachers will be laid off before teachers of color, regardless of their seniority. “Students need educators who look like them and who they can relate to,” the document says.   Crayons aside, we thought we were teaching kids to not see color.

Get back to work now.

What’s in a Name?

It’s business as usual in Washington DC.  Except, unfortunately, it’s not business it’s government.

Falling one “yea” shy for over a year on the bloated Build Back Better boondoggle, Senate Majority Leader Chuck Schumer negotiated directly with Sen. Joe Manchin, D-W.Va to no longer fall one vote shy.

So, without further adieu and with inflation running at a half-a-century high, the Senate will use a back door tactic to get around filibustering and present to you the Inflation Reduction Act of 2022.

What’s in a name?  “What’s in a name? That which we call a rose by any other name would smell just as sweet,” wrote William Shakespeare.

In this instance that which we call yet another spending bill would smell just as rotten to those who are willing to read all about it.  You see, the Inflation Reduction Act of 2022 has nothing whatsoever to do with combating the pain you feel at the grocery store or the gas station.

It’s the third wild spending bill in 18 months as the country stands at $30 trillion in debt and counting geometrically.  We printed money, gave it away, and devalued the dollar making us chase products and services with more dollars.  That’s inflation.

Rather than risking more inflation with trillions in new spending, this bill will cut the inflation taxes Americans are paying, lower the cost of health insurance and prescription drugs, and ensure our country invests in energy security and climate change solutions,” Manchin said.

One, someone needs to stick a microphone under Manchin’s chin and ask what “inflation taxes” mean.

Two, the unaffordable Affordable Care Act just got more expensive for those who pay for it.

Three, it’s a slimmed-down version of the Green New Deal, but it is by no means slim unto itself.   At least the summer heat wave will go away, won’t it?

But wait, this comes with a corporate tax increase and a minimum corporate tax as well.  Doesn’t that make it a pay-for-itself bill?

“It will ensure that the biggest corporations and the wealthiest few pay their fair share,” Pelosi said in a letter to Democratic lawmakers.  Can someone define “fair share for us?”  Tax laws are tax laws. Fair is in the eye of the beholder, period.

So, we just increased taxes on businesses.  Do you know how businesses will offset those increased tax burdens?  They’ll increase their prices to maintain their bottom lines.  That means you pay more.

The Inflation Reduction Act will cause more inflation.  What’s in a name?

It doesn’t sound so rosy anymore, does it?

Didn’t Romeo and Juliet have a tragic ending?